Sunday, March 26, 2006

Placements? Salaries? Beat this!

If you thought B-schools were the only ones involved in the not-so-gentlemanly tussle about the erstwhile private affair called salaries, there is a news-clip in Hindu about 75 students of Anna University getting salaries worth Rs. 12 lacs per annum.

This year 75 students of Anna University have secured jobs with a salary of Rs.1 lakh a month, and this is the highest number of candidates in any of the educational institutions in the country to get such an impressive pay packet.

He said for the next year, the companies had spelt out their requirement of 500 candidates in the Rs.1 lakh salary category and many thousands in the Rs 50,000 bracket.

This is not so surprising since I myself heard from my juniors about students of my alma mater (Govt. College of Technology) being recruited for Rs. 50,000 to 60,000 per month by Yahoo!

There’s more. There is also a mention in the same article about a guy getting $28,000 dollars per month. Ignore the part about the work being in Nigeria, and you have an annual salary of $336,000, whereas the highest salary of IIM Bangalore grad was $193,000.

One candidate from a private engineering college at Coimbatore had got an US $ 28,000 a month offer (amounting to Rs 1.75 crore a year) from a Nigerian company.

This is really hot news. Someone please call the media! Time for an interesting debate if the student is really worth it.

By the way, S. Karthick brings into perspective an interesting post (Deflating placements) as to how the IIMB grad was originally offered a salary in pounds which was converted in dollar terms for convenience sake.

Update: My friend who graduated from Anna University tells me that the student from Coimbatore got a salary of US$28000 per year and not per month as reported in the article.

I can't believe this....plz tell the names of the companies & the role offered with location....as far as I know..the highest CTC(indian posting) offered to any engineering grad is Rs. 18,00,000 p.a. by 'Schlumberger'(an Oil company)to many iitians..[here in IITkgp they have offered this salary to 22 grads....n in total they have hired around 100 iitians this year]..

Govar, This news bit is according to what the VC said.. He is one who intreprets the police report of gas leak in home as a bomb attack..So always take his statement with a pinch of salt..Truth: The highest salary offered in AU(on-campus) was around 10 lakh p.a. by Google.. Microsoft chipped in with 5.5 l.p.a with medical benefits taking it to 12 l.p.a(newspapers reported it wrongly as 12).. 75 were students who walked out of on-campus placement process with dream job offers(ie. jobs with more than 4 lakh p.a.).. Most of the job offers ranged from 4-6.5 l.p.a.. Anyway it was good news that these dream companies have started seeing pastures other than IITs...- Robin 2006 Batch of CEG, AU